Malaysia’s Mudajaya Group geared to issue RM 245 million green sukuk

By Marisa Wong

Morgantown, W.Va., Dec. 4 – Mudajaya Group Bhd. said the conditions to the proposed issuance of green sukuk by indirect wholly owned subsidiary Sinar Kamiri Sdn. Bhd., formerly MGB Enterprise Sdn. Bhd., have now been met. The green sukuk are now available for issuance, according to a Bursa Malaysia announcement on Monday.

On Nov. 14, the company announced plans to issue up to RM 245 million of green sukuk on a one-off basis, possibly with different maturities of up to 18 years.

Proceeds will be used in part to finance a proposed project for the development of a large-scale solar photovoltaic energy-generating facility in Sungai Siput, Kuala Kangsar, Perak.

AmInvestment Bank Bhd. and United Overseas Bank (Malaysia) Bhd. are the joint lead arrangers and joint lead managers.

Mudajaya is a property developer based in Petaling Jaya, Malaysia.

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